Udayshivakumar Infra shares hit 5% upper circuit after securing orders worth ₹1,057 crore; check details

Shares of Udayshivakumar Infra Ltd surged 5% to hit the upper circuit limit of ₹62.58 apiece on the NSE on Friday, September 6, after the company’s joint venture (JV) entities emerged as lowest bidders (L1) for multiple National Highway projects in Karnataka.

Udayshivakumar Infra informed the exchanges in a filing on September 5 that three of its joint ventures with KMCCL have emerged as the lowest bidders for multiple major National Highways (NH) Projects in the state of Karnataka. The projects have been secured on an Engineering Procurement Construction (EPC) basis. The total size of all three orders is ₹1,057.3 crore.

One of the joint ventures has emerged as the lowest bidder for widening NH 69(Old NH 206) in Karnataka to a four-lane road along with a paved shoulder in the Honnavar-Chittoor section. The project has been won on an EPC basis. The size of the order is ₹366.19 crore, and the project will be completed in 24 months. Udayshivakumar Infra will receive 97.75% of the revenue from the project, and 2.25% of the revenue will go to KMCCL.

The second order pertains to widening the KB Cross to Chunchanahalli section of the NH150A in Karnataka to a two-lane road with paved shoulders. The order is ₹299.19 crore, and the project's tenure is 24 months. Udayshivakumar Infra will receive 97.75% of the revenue from the project, and 2.25% will go to KMCCL.

The third order is for the widening of the NH-548B from Murgundi to Chikkodi in Karnataka. The order is ₹391.92 crore and will be completed in 24 months. As much as 51% of the revenue from the project will go to Udayshivakumar Infra, and 49% will be received by KMCCL.

On September 5, Udayshivakumar Infra informed the exchanges via a separate filing that it has won the bidding for a Performance-Based Maintenance contract (PBMC) for the stretches pertaining to Vijayapura Division in the State of Karnataka and has secured a Letter of Acceptance( LOA ) for an order of ₹29.53 crore, including GST.